WellCare (NYSE:WCG) had its price target lifted by equities research analysts at Leerink Swann from $275.00 to $300.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has an “outperform” rating on the stock. Leerink Swann’s price target would suggest a potential upside of 35.34% from the stock’s previous close.
Several other research firms have also commented on WCG. Wells Fargo & Co raised their price target on shares of WellCare from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, May 2nd. Morgan Stanley raised their price target on shares of WellCare from $220.00 to $228.00 and gave the company an “equal weight” rating in a report on Wednesday, May 2nd. ValuEngine lowered shares of WellCare from a “buy” rating to a “hold” rating in a report on Wednesday, May 9th. Cantor Fitzgerald restated a “buy” rating and issued a $235.00 price target on shares of WellCare in a report on Tuesday, February 6th. Finally, Zacks Investment Research upgraded shares of WellCare from a “hold” rating to a “buy” rating and set a $216.00 price target on the stock in a report on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $233.14.
WCG opened at $221.67 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 1.26. WellCare has a 1 year low of $162.25 and a 1 year high of $232.04. The company has a market capitalization of $9.90 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.48 and a beta of 0.89.
Institutional investors and hedge funds have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of WellCare by 98.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after purchasing an additional 279 shares during the period. Bessemer Group Inc. raised its stake in shares of WellCare by 593.2% during the fourth quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock valued at $165,000 after purchasing an additional 700 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of WellCare during the fourth quarter valued at approximately $202,000. Gotham Asset Management LLC purchased a new stake in shares of WellCare during the fourth quarter valued at approximately $202,000. Finally, Matisse Capital purchased a new stake in shares of WellCare during the fourth quarter valued at approximately $205,000. Institutional investors own 97.44% of the company’s stock.
WellCare Company Profile
WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.
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